New York State Common Retirement Fund Sells 262,028 Shares of PepsiCo, Inc. (NASDAQ:PEP)

New York State Common Retirement Fund lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 12.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,847,579 shares of the company’s stock after selling 262,028 shares during the period. New York State Common Retirement Fund owned about 0.13% of PepsiCo worth $314,181,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PEP. Legal & General Group Plc raised its position in PepsiCo by 7.2% in the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after buying an additional 561,465 shares during the period. Ameriprise Financial Inc. grew its holdings in PepsiCo by 1.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after acquiring an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG increased its position in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.2 %

Shares of NASDAQ PEP traded down $0.37 during trading on Friday, hitting $165.71. 337,048 shares of the company traded hands, compared to its average volume of 5,439,981. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The business’s fifty day moving average is $173.24 and its 200 day moving average is $172.20. The firm has a market capitalization of $227.35 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 3.10 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEP. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research note on Friday, July 19th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and an average price target of $183.92.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.